Is it Possible to Rely Solely on Luck When Trading in Forex?

[Asahi]

Radom picking up of strategies won’t benefit you ultimately and so you have to prove them by applying on demo account.Traders should use multiple strategies at a time to produce better signals. Eurotrader is a regulated trading broker, allowing traders to apply all types of trading strategies on their platform.

 

[AtomicDating]

In trading, luck does not do anything, and when you depend on luck, you leave the only cause and the only saviour - your own efforts. So, instead of relying on luck, rely on your own efforts and market knowledge.

 

[Hylotomous]

Luck can make a trader win a couple of times or more, but in the long run, proper knowledge and smart trading strategies would come into play. While there are many resources for getting knowledge about forex trading, for strategies, there is only the demo account where one can test their strategies. Used this approach at the start of my trading career, read various books on fx trading, and practiced in coinexx demo account. I won’t say trading becomes easier after doing all this, but a trader gets the right approach to overcome difficulties while trading.

 

[Richee84]

Forex trading is totally different from gambling where the players only depend on luck to win or survive there. Forex trading require a lot of techniques and analysis that if we get right will bring in profit for us.

In every business and even in life one need luck in one or two ways to move ahead easily, though we all need luck in Forex trading to always be on the window side but Forex trading can not be rely totally luck. We both need to have the require knowledge needed in Forex trading, do our analysis correctly and make use of the necessary techniques to stop loss, after all this have been put in place we then pray for luck to come our way.

We also still need some element of luck to scale through even after doing all that is required of us to do. Getting all the knowledge in Forex does not actually still guarantee a win win situation for us at all time. There are time we still do our analysis and yet run out of luck. Nobody is actually perfect when it come to Forex trading, we can only be sure that our knowledge and the techniques will always keep us in the market and reduce our loss.

 

[Archetype]

You shouldn't depend only on luck in forex trading as your success depends on your skills of trading. Many people think that they can make a lot of money by depending on their luck, but the truth is that you need to have the skills to make the right decisions in order to be successful.

 

[Economacy]

No, basing decisions on pure luck is not logical or the smartest way to approach the market. Traders need to deal with loss with patience and learn how to move forward. The goal is to earn profit and there is no shortcut so traders should rely on their own knowledge or take help from a mentor to understand the market better.